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Infrastructure Financing Without Raising Federal Taxes or the National Debt
Addressing the Issue of Financing of Infrastructure Projects
The Issues
According to the American Society of Civil Engineers (ASCE) by 2025 the economic losses due to infrastructure deficiencies include:
- $3.9 Trillion losses to GDP;
- $7 Trillion in lost business sales;
- 2.5 million lost jobs; and
- Each household annually loses $3.400 in disposable income.
The Problems
No money to finance infrastructure projects, compounded by the 2017 Trump Tax cut of $1.5 Trillion, which benefited large corporations and the wealthy.
COVID-19 decimated the economy, caused 40 million to be unemployed, and forced Congress to go into massive deficit spending in the various relief legislation including the Families First Act, CARES Act and the HEROES Act, which consumed a vast amount (trillions of dollars), which would have otherwise more than paid for the estimated 5 trillion dollars needed for infrastructure projects.
The Solution
Using existing tax laws (emphasis 26 U.S.C. § 103) and the Griffin Renewing Infrastructure Plan (GRIP) methodologies:
- Corporations could repatriate their $4 trillion off-shore money and pay $0 taxes, and their interest income on this money (approx. 2.5%) would be tax-exempt;
- There is $4.33 trillion of available funds from public pensions funds;
- Individual taxpayers may reduce their federal income taxes by approximately 20% and their interest earnings (approx. 2.5%) would also be tax-exempt; and
- There would be no need to raise federal income taxes or the National Debt to pay for infrastructure projects.
Cybersecurity & Infrastructure Security Agency Alerts
Protect Your Infrastructure Investments
Whether it is cyber or physical attacks on infrastructure, it can be catastrophic; including costs of replacement, loss of revenue generation, and loss of ROI. This is certainly true of electricity grid, communications, and water supply; but with our current society, imagine the unimaginable for anything infrastructure. Stay informed and stay alert.
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